FairPoint Communications 2005 Annual Report Download - page 81
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(c) Investments in Equity Securities Carried at Cost
The aggregate cost of the Company’s cost method investments totaled $33.1 million at December 31, 2005. These investments were not evaluated for
impairment because (a) the Company did not estimate the fair value of those investments in accordance with paragraphs 14 and 15 of SFAS No. 107
and (b) the Company did not identify any events or circumstances that may have had a significant
adverse effect on the fair value of those investments.
Long-term debt at December 31, 2005 and 2004 is shown below (in thousands):
2005 Senior secured notes, variable rates ranging from 5.82% to 7.97% (weighted average
rate of 5.85%) at December 31, 2005, due 2011 to 2012 $ 602,275 $ —
1998 Senior secured notes, variable rates ranging from 6.44% to 8.75% at December 31,
2004 —182,357
Senior subordinated notes due 2008:
Fixed rate notes, 9.50% —115,207
Variable rate notes, 6.4875% at December 31, 2004 —75,000
Senior subordinated notes, 12.50%, due 2010 —193,000
Senior notes, 11.875%, due 2010 2,050 225,000
Senior notes to RTFC:
Fixed rate, ranging from 8.2% to 9.20%, due 2009 to 2014 3,100 2,278
Variable rate, 6.15% at December 31, 2004, due 2009 — 3,415
Subordinated promissory notes, 7.00%, due 2005 —7,000
First mortgage notes to Rural Utilities Service, fixed rates ranging from 4.96% to 10.78%,
due 2005 to 2016 — 6,034
Senior notes to RTB, fixed rates ranging from 7.50% to 8.00%, due 2008 to 2014 — 1,141
Total outstanding long-term debt 607,425 810,432
Less current portion (677) (524)
Total long-term debt, net of current portion $606,748 $809,908
The approximate aggregate maturities of long-term debt for each of the five years subsequent to December 31, 2005 are as follows (in thousands):
Fiscal year:
2006 $677
2007 714
2008 753
2009 149
2010 2,210
Thereafter 602,922
$607,425
79